MicroStrategy (MSTR) 升至納斯達克 100 指數，標誌著比特幣和金融市場的里程碑

您可能認識邁克爾·塞勒（Michael Saylor），他是最直言不諱的比特幣大使之一。嗯，他的公司 MicroStrategy (MSTR) 剛剛成為頭條新聞，正式成為

Key Takeaways:

要點：

You probably know Michael Saylor, one of the most vocal Bitcoin ambassadors. Well, his company, MicroStrategy (NASDAQ:MSTR), has just made headlines by being officially added to the Nasdaq 100—one of the most prestigious stock indices in the world. This is not only a success for MicroStrategy but also a very important milestone for Bitcoin and financial markets.

您可能認識邁克爾·塞勒（Michael Saylor），他是最直言不諱的比特幣大使之一。他的公司 MicroStrategy（納斯達克股票代碼：MSTR）剛剛正式入選納斯達克 100 指數（世界上最負盛名的股票指數之一），從而成為頭條新聞。這不僅是 MicroStrategy 的成功，也是比特幣和金融市場的一個非常重要的里程碑。

MicroStrategy Rises to NASDAQ 100

MicroStrategy 躋身納斯達克 100 強

On December 13, 2024, Nasdaq announced new companies joining the Nasdaq 100 index. MicroStrategy came up as a high riser on the list, taking the place of such tech behemoths as Palantir Technologies Inc. (NYSE:PLTR) and Axon Enterprise, Inc. (NASDAQ:AXON). In fact, the addition of this company had meant the removal of three from the index, namely Illumina, Inc. (NASDAQ:ILMN), Super Micro Computer, Inc. (NASDAQ:SMCI), and Moderna, Inc. (NASDAQ:MRNA).

2024年12月13日，納斯達克宣布有新公司加入納斯達克100指數。 MicroStrategy 在榜單上名列前茅，取代了 Palantir Technologies Inc.（NYSE：PLTR）和 Axon Enterprise, Inc.（納斯達克股票代碼：AXON）等科技巨頭。事實上，這家公司的加入意味著從指數中刪除三家公司，即Illumina, Inc.（納斯達克股票代碼：ILMN）、Super Micro Computer, Inc.（納斯達克股票代碼：SMCI）和Moderna, Inc.（納斯達克股票代碼：MRNA） ）。

What does this mean?

這意味著什麼？

In simple terms, the Nasdaq 100 is just the 100 largest non-financial companies listed on the Nasdaq exchange. Therefore, inclusion in this list just means that MicroStrategy has finally become one of the largest market-cap companies on Nasdaq.

簡單來說，納斯達克100就是在納斯達克交易所上市的最大的100家非金融公司。因此，進入這份榜單只是意味著MicroStrategy終於成為納斯達克市值最大的公司之一。

MicroStrategy’s Rise with Bitcoin

MicroStrategy 隨比特幣崛起

A full-fledged Bitcoin investment vehicle from an otherwise software company, 2020 saw MicroStrategy flip into one of the largest Bitcoin holders in the world, as Michael Saylor poured capital into it once revenues from its software segment began falling. At the time of recording, December 8, 2024, the company holds roughly 423,650 Bitcoin, valued at close to $42.4 billion—a number that is actually incredible.

作為一家軟體公司的成熟比特幣投資工具，2020 年，MicroStrategy 成為世界上最大的比特幣持有者之一，當其軟體部門的收入開始下降時，Michael Saylor 向其註入了資金。截至 2024 年 12 月 8 日記錄時，該公司持有約 423,650 個比特幣，價值接近 424 億美元——這個數字實際上令人難以置信。

The Surge of MSTR Stock

MSTR股票飆升

The decision to invest in Bitcoin sent MSTR’s stock high flying. Its stock has surged more than sixfold this year, forcing the market capitalization of MicroStrategy to approach nearly $94 billion. This explosive growth earned it a place in the Nasdaq 100.

投資比特幣的決定使 MSTR 的股價飆升。今年，MicroStrategy 的股價已飆升六倍多，迫使其市值逼近近 940 億美元。這種爆炸性的成長使其在納斯達克 100 指數中佔有一席之地。

More News: Microstrategy Borrows $205 Million To Purchase More Bitcoin

更多新聞：Microstrategy 借款 2.05 億美元購買更多比特幣

Impact on the Financial Markets

對金融市場的影響

ETF Cash Flows:

ETF 現金流量：

This carries a lot of implications because by joining the Nasdaq 100, MicroStrategy opens up the potential for massive inflows from Exchange-Traded Funds tracking the index. These funds would typically buy shares in the companies within the index in an effort to mirror their portfolio to that of the index. QQQ Trust alone manages around $322 billion in assets.

這帶來了許多影響，因為透過加入納斯達克 100 指數，MicroStrategy 開啟了追蹤該指數的交易所交易基金大量資金流入的潛力。這些基金通常會購買指數內公司的股票，以使其投資組合與指數的投資組合相符。光是 QQQ Trust 就管理著約 3,220 億美元的資產。

The Domino Effect:

骨牌效應：

In a sense, according to Jeff Park, an analyst at Bitwise Invest, MicroStrategy’s inclusion into the Nasdaq 100 could be “the trade of the decade.” What this really means is that major pension funds, sovereign wealth funds, and individual retirement accounts around the world will indirectly get exposed to Bitcoin through MSTR.

Bitwise Invest 分析師 Jeff Park 表示，從某種意義上說，MicroStrategy 被納入納斯達克 100 指數可能是「十年來的最佳交易」。這實際上意味著世界各地的主要退休基金、主權財富基金和個人退休帳戶將透過 MSTR 間接接觸比特幣。

Commentary:

評論：

In turn, this can be attributed to one of those historical moments of development that essentially took place within the crypto market. This just explains that Bitcoin is finding itself more and more into mainstream adoption in the financial world; and increasingly, it’s not solely looked upon as a “risk” investment but forms part of mainstream institutional portfolios slowly and surely. Felix Hartmann, founder of Hartmann Capital, went as far as to say that fund managers looking to keep pace with the Nasdaq may need to gain exposure to Bitcoin or MSTR.

反過來，這可以歸因於本質上發生在加密貨幣市場內的發展歷史時刻之一。這正好說明了比特幣越來越成為金融界的主流採用；而且，它不再僅僅被視為一種「風險」投資，而是緩慢而堅定地成為主流機構投資組合的一部分。 Hartmann Capital 創辦人 Felix Hartmann 甚至表示，希望跟上納斯達克步伐的基金經理可能需要投資比特幣或 MSTR。

Michael Saylor and His Vision for Bitcoin

邁克爾·塞勒和他對比特幣的願景

Michael Saylor never seems to stop investing within his company, but does one step further by pursuing an active campaign of increasing the adoption of Bitcoin not just for his company but the many large corporations out there. Thus, recently, he gave another brief, three-minute overview presentation to Microsoft’s Board of Directors, arguing what would amount to nearly another $5 trillion in market cap in their stock price while he tries to get them to officially “all in” for Bitcoin. Microsoft can’t afford to miss it, he said. The next wave of tech. Bitcoin is that.

邁克爾·塞勒 (Michael Saylor) 似乎從未停止在他的公司內部進行投資，但他更進一步，發起了一場積極的活動，不僅為他的公司，也為許多大公司增加比特幣的採用。因此，最近，他向微軟董事會做了另一場簡短的三分鐘概述演講，認為他們的股價將達到近 5 兆美元的市值，同時他試圖讓他們正式「全押」比特幣。他說，微軟不能錯過這個機會。下一波科技浪潮。比特幣就是這樣。

Summary Table

總計表

Additional Insights

額外的見解

This is an event that has given birth to a number of interesting questions: will other big companies follow the example of MicroStrategy and start heavy investments in Bitcoin; can MicroStrategy continue with this impressive performance and position? Some analysts really believe that it is highly probable that MicroStrategy could be qualified as a financial company since its value comes mainly from Bitcoin and not because of its software operations. If that happens, the company’s time in the Nasdaq 100 might be short-lived. However, according to James Van Straten of CoinDesk, this could even increase pressure on other major funds, like the SPDR S&P 500 Trust (NYSE:SPY), to consider buying MSTR shares

這事件催生了許多有趣的問題：其他大公司是否會效仿 MicroStrategy 開始大量投資比特幣？ MicroStrategy 能否繼續保持這種令人印象深刻的業績和地位？一些分析師確實認為，MicroStrategy 很有可能符合金融公司的資格，因為它的價值主要來自比特幣，而不是因為其軟體業務。如果這種情況發生，該公司在納斯達克 100 指數中的日子可能會很短暫。然而，CoinDesk 的 James Van Straten 表示，這甚至可能會增加 SPDR S&P 500 Trust（NYSE：SPY）等其他主要基金考慮購買 MSTR 股票的壓力